Fed’s Powell says interest rates will be on hold absent a material deterioration in economy

Federal Reserve Chairman Jerome Powell on Wednesday told Congress that interest rates are on hold absent a material deterioration of the economy.

The Fed has cut interest rates in three quarter-point moves since July, putting the Fed’s benchmark federal funds rate in a range of 1.5%-2%. “We will continue to monitor these developments and assess their implications for U.S. economic activity and inflation,” he said.He warned that the long-term federal budget “is on an unsustainable path.” This might hamstring fiscal policymakers’ willingness and ability to help in any recession, he said.

So they're not really on hold then...

Fat Donny will not be happy. Let s see he inherited 210k jobs per month, a stock market that rose 182 pct in 2 terms, no GOPutin type recessions. now job creation is about 160K avg, stock market up a paltry 4 pct in 22 months massive deficit and sub 2 GDP but eco is great ?

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Fed's Powell says interest rates unlikely to change as long as growth continuesPowell reiterated a stance he outlined a few weeks ago that the Fed's moves this year toward more accommodative monetary policy have helped support an economy that continues to grow. what growth ? Powell is such a disaster. Poor Jerome....45s whipping boy...maybe he was responsible for the Ukraine call?
Source: CNBC - 🏆 12. / 72 Read more »